Redwoods Acquisition priced its initial public offering of 10 million units at $10 each. A unit consists of one share, a warrant exercisable at $11.50 and one right to receive one-tenth of a share.
The SPAC’s acquisition focus is on carbon neutral, energy storage and related sectors. Redwoods in the filing said it will not consider any entity with principal business operations in China (including Hong Kong and Macau).
CEO Jiande Chen was the CEO and vice chairman of IMAX China. He led the team that completed its initial public offering in October 2015. CFO Edward Cong Wang also serves as the chairman president and CEO of Pacifico Acquisition.
Chardan is sole book-running manager of the offering.
The SPAC will list on the Nasdaq under the symbol RWODU. Read more.
